(Revised March 2016)
Guideline on Insurance Intermediaries Quality Assurance Scheme
(“IIQAS”) Continuing Professional Development (“CPD”) Programme
1. Pursuant to the Minimum Requirements for Insurance Brokers specified by the
Insurance Authority, Chief Executives (“CEs”) and Technical Representatives (“TRs”)
aiming to be re-registered, shall comply with the requirements of the IIQAS CPD
Programme.
CPD Requirements
2. CEs and TRs are required to earn 10 CPD hours for each assessment period,
i.e. 1st July of each year to 30th June of the subsequent year.
3. No excess CPD hours accumulated within a particular assessment period can be
carried forward to any subsequent assessment periods.
4. Those CEs and TRs who may have intermittently registered among the Insurance
Agents Registration Board (“IARB”), the Hong Kong Confederation of Insurance
Brokers (“CIB”) or us as new registrants within a particular assessment period, they are
required to satisfy the CPD requirements on a pro-rata basis with details listed as
follows:
CPD Requirements Conversion Table
Total number of months to report
CPD compliance
Requisite CPD hours
12
10
11
9
10
8
9
8
7
7
6
6
5
5
4
(A) see illustration
4
3
3
2
2
1
1
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Illustration in CPD hours conversion
Within the assessment period from 1 July to 30 June, a new registrant with registration
record needs 7 CPD hours computed as below:
Registration Body
Period
Number of Months
IARB
Aug – Oct
3
CIB
Dec – February
3
PIBA
May – June
2
Total Number of Months
8
Requisite CPD hours
7
(A)
5. Irrespective of the registration date, calendar month shall be the basis for calculating
CPD requirements.
6. As regards application for re-registration with applicant’s insurance intermediary
registration being lapsed over 6 months, such applicant is not required to declare any
CPD record in the application form. However, once his/her re-registration with us is
approved, he/she shall comply with the CPD requirement mentioned in paragraph 4.
Qualified CPD Activities
7. Those were approved by the Hong Kong Council for Accreditation of Academic &
Vocational Qualifications (“HKCAAVQ”) relating to IIQAS CPD Programme.
8. Those were organized by the Insurance Authority, IARB, CIB or us.
9. CPD courses which were organized or formally approved by the specified professional
bodies, provided that they were within the following scope:
(i) Local insurance (or related) legislation
(ii) Regulatory aspects of insurance practice in Hong Kong
(iii) Insurance
(iv) Actuarial science
(v) Risk management
(vi) Financial planning
(vii) Other disciplines which are directly related to the work of insurance
intermediaries, such as investment, law and legal knowledge, finance, business,
commerce, management, engineering or communication skills.
Specified professional bodies shall refer to those organizations established under an
Ordinance of Hong Kong or those required to perform statutory duties under an
Ordinance of Hong Kong, e.g. the Hong Kong Institute of Certified Public Accountants
and the Law Society of Hong Kong.
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10. Studies for local or overseas university bachelor degrees or postgraduate degrees in
any disciplines relating to the scope as stated in paragraph 9 can be granted 10 CPD
hours for each year’s studies, for a maximum of 6 years in respect of each university
degree programme. Evidence of examination results, coursework assessment or
attendance within a particular assessment period should be submitted as required.
11. Studies for attaining specified qualifications as listed below can be granted 10 CPD
hours for each year’s studies, for 6 years at most in respect of each qualification.
Evidence of passing the examination of at least one subject within a particular
assessment period should be submitted as required.
List of specified qualifications
(i) Associate or Fellow of the Chartered Insurance Institute (ACII/FCII)
(ii) Senior Associate or Fellow of the Australian and New Zealand Institute of
Insurance and Finance (ANZIIF (Snr Assoc)/ANZIIF (Fellow))
(iii) Certified Financial Planner (CFP)
(iv) Chartered Financial Consultant (ChFC)
(v) Chartered Life Underwriter (CLU)
(vi) Chartered Property Casualty Underwriter (CPCU)
(vii) Fellow, Chartered Financial Practitioner (FChFP) of the Life Underwriters
Association of Hong Kong
(viii) Fellow of the Faculty of Actuaries in Scotland (FFA)
(ix) Fellow of the Institute of Actuaries of England (FIA)
(x) Fellow of the Institute of Actuaries of Australia (FIAA)
(xi) Fellow of the Life Management Institute (FLMI)
(xii) Fellow of the Society of Actuaries of the United States of America (FSA)
(xiii) Hong Kong Diploma in Insurance Studies of The Insurance Institute of Hong
Kong / The Chartered Insurance Institute1
(xiv) Hong Kong Insurance Professional Qualification Examination (HKIPQE) of the
Hong Kong Society of Certified Insurance Practitioners
(xv) Fellow of the Life Underwriter Training Council (LUTCF)
(xvi) Professional Diploma in Insurance Programme (PDI) of the Vocational Training
Council
12. Holders of the qualifications as stated in paragraph 11 can be granted 10 CPD hours if
they satisfied the CPD requirements for holding such qualifications within a particular
assessment period. Evidence of holding such qualifications/titles and satisfying the
institute’s CPD programme should be submitted as required.
13. Speakers in any of the qualified CPD activities can earn 3 CPD hours for each hour of
lecturing.
____________________
1 With effect from 27 November 2015, The Chartered Insurance Institute has become the
awarding body of the qualification after the merger between The Insurance Institute of
Hong Kong and The Chartered Insurance Institute Hong Kong Ltd.
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14. Programmes accredited under the Qualifications Framework (“QF”) of Hong Kong and
categorised under the insurance industry on the Qualifications Register (“QR”) under
the Education Bureau can be recognised as qualified CPD activities. 3 QF credits
obtained under these programmes within a particular assessment period will be
considered as earning 10 CPD hours2. A maximum of 10 CPD hours can be recognised
for each year’s studies, for 6 years at most in respect of the same programme. These
programmes are not required to be assessed by the HKCAAVQ. Evidence of
examination results, coursework assessment or attendance should be submitted as
required.
15. Insurance related programmes accredited under the QF of Hong Kong but not
categorised under the insurance industry on the QR can also be recognised as
qualified CPD activities, provided that at least 50% of their course contents fall within
the areas of coverage specified in the Appendix and have been approved by the
HKCAAVQ as qualified CPD activities. 3 QF credits obtained under these programmes
within a particular assessment period will be considered as earning 10 CPD hours2. A
maximum of 10 CPD hours can be recognised for each year’s studies, for 6 years at
most in respect of the same programme. Evidence of examination results, coursework
assessment or attendance should be submitted as required.
Compliance Vetting
16. Responsibility of Corporate Members and CEs:
(i) Dispatch form for CPD record reporting to all TRs;
(ii) Inform TRs of the submission deadline;
(iii) Monitor TRs’ compliance with the CPD requirements;
(iv) Ensure timely submission of the said form to us;
(v) Furnish us with copies of documentary proofs for declared CPD records when so
required.
17. Responsibility of CEs and TRs:
(i) Complete the form for CPD record reporting and submit it to the appointing
company within reasonable time for meeting the submission deadline;
(ii) Retain the original documentary proofs of all declared CPD records for at least 3
full calendar years so as to provide such documents to us when so required.
18. Our Responsibility and Restriction:
(i) Monitor CEs’ and TRs’ CPD compliance under a random audit system;
(ii) We will neither return nor retain any documentary proofs relating to declared CPD
records.
____________________
2 For those programmes with less than 3 QF credits, CEs and TRs will be considered as
earning 1 CPD hour for attending 1 hour of face-to-face training under such programmes.
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Consequence of Breach
19. Failure to submit the form for CPD record reporting on time (e.g. late submission or no
submission) or failure to satisfy the CPD requirements (e.g. insufficient CPD hours), will
result in refusal of re-registration and de-registration of the CE or TR concerned.
20. CEs or TRs who had attended non-qualified CPD activities but declared to have
satisfied with the CPD requirements will be subject to:
(a) replenishment of CPD hour(s); and
(b) administration fee: HK$1,000 for CE, HK$800 for TR.
Further disciplinary action may be considered if necessary.
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Appendix
Recognition of insurance related programmes
accredited under the Qualifications Framework of Hong Kong
as qualified IIQAS CPD activities
Areas of Coverage
For those insurance related programmes accredited under the Qualifications Framework of
Hong Kong but not categorised under the insurance industry on the Qualifications Register
under Education Bureau, at least 50% of their course contents should fall within the
following areas of coverage in order to be recognised as qualified CPD activities for the
IIQAS CPD Programme:
1.
2.
3.
4.
5.
6.
7.
8.
Accounting
Actuarial science
Annuity
Aviation insurance
Business studies / practice
Claims management
Commerce
Communication
21.
22.
23.
24.
25.
26.
27.
28.
9. Company and contract law
10. Economics
11. Engineering insurance
29.
30.
31.
12.
13.
14.
15.
16.
17.
18.
19.
20.
32.
33.
34.
35.
36.
37.
Financial planning
General insurance
Human resources management
Information systems
Insurance broking
Insurance law
Investment
Investment-linked long term insurance
Law and legal studies
Liability insurance
Life and disability insurance
Life insurance
Marine insurance
Marketing
Medical and health insurance
Motor insurance
Organisational behaviour and
management
Principles and practice of insurance
Property and pecuniary insurance
Provident fund (mandatory) and
retirement schemes
Quantitative methods
Reinsurance
Risk management
Statistics
Strategic management
Underwriting management
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